Curious about what loan option makes the most sense for you? Test it out by using our Comparison Mortgage Calculator…
The results provided by this mortgage calculator are for informational and illustrative purposes only. They do not constitute a commitment to lend or an offer of credit. Actual loan terms, interest rates, and monthly payments may vary based on factors such as credit profile, loan product, property location, and other considerations. All estimates are subject to underwriting approval and may not include additional costs. Borrowers should carefully review their financial situation and consult with a licensed mortgage professional before making any loan decisions.
Total cost after
1 year
years
TOTAL COST
YEARS
Option A
$/mo
Loan Type
Loan Amount
$
Interest Rate
%
Upfront Cost
$
Monthly Payment
$
Lifetime Cost
$
Option B
$/mo
Loan Type
Loan Amount
$
Interest Rate
%
Upfront Cost
$
Monthly Payment
$
Lifetime Cost
$
Estimated Costs
These costs are estimated based the information added in the advanced section. You may adjust these values to suit your particular situation in order to get a more accurate estimate.
Loan Option A
Loan Option B
Loan Amount
$
$
Down Payment
$
$
Interest Rate
%
%
Loan Term
years
years
Taxes & Insurance Included?
Property Tax(1st year)
$
$
Home Owners Insurance(1st year)
$
$
HOA dues
$
$
Home Appreciation
%
%
Upfront Fee
$
$
Total upfront fees
$
$
Total Interest Payments
$
$
Total Principal Payments
$
$
Lifetime Cost
$
$
How We Calculate the Costs
Comparing Mortgage Options
This calculator helps you compare two different mortgage options. It takes into account various factors for each option:
Loan Details:
- Loan type (Conventional, FHA, VA, USDA)
- Loan amount
- Interest rate
- Loan term
- Down payment amount
- Property taxes
- Homeowners insurance
- HOA fees
- Private Mortgage Insurance (PMI) if applicable
- Conventional loans: Typically closing costs (2-5% of loan amount)
- FHA loans: Upfront Mortgage Insurance Premium (UFMIP) of 1.75% of the loan amount
- VA loans: VA Funding Fee (varies based on down payment and use)
- USDA loans: Upfront guarantee fee of 1% of the loan amount
- Monthly mortgage payment (principal and interest)
- Total interest paid over the life of the loan
- Total cost of the loan (including upfront fees, monthly payments, and additional costs)
- Annual home appreciation rate: %
- Monthly payment
- Total upfront costs
- Total cost over the life of the loan
- Break-even point (if applicable)
Experts
Check out our other mortgage calculators
Access our top-rated mortgage calculators to expertly assess your financing options, compare various loan types, and make informed decisions for your home buying journey.
About Us
OM Mortgage LLC
NMLS #1972491
At OM Mortgage, you truly get the best of both worlds. As both a lender and a broker, we give you direct access to competitive in-house lending options while also offering the flexibility to shop the market with multiple wholesale lenders. This means more choices, better terms, and solutions tailored to your unique needs.
We are a multi-state residential mortgage company committed to one thing: YOU. Our promise is simple—putting you and your family first to ensure you receive the right mortgage product, fair fees, and the kind of service and advice that builds lasting relationships.
With over 350 years of combined experience, our team has guided clients through every market cycle. That perspective has made us a lifetime mortgage partner—the one that will be there when your children buy their first home, just like mom and dad did.
We approach lending with our proven S.M.A.R.T. communication process:
- Secure. Your information is always protected with the highest standards.
- Modern. We use the latest mortgage technology for faster, smarter solutions.
- Available. Our team is here for you 24/7/365.
- Reliable. No matter the situation, you are always our priority.
- Transparent. Honesty and integrity aren’t just words—they’re the way we do business.
